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FNB Life displaces traditional insurers to claim top spot for most satisfied customers in SA

23 September 2019 FNB

SA’s fastest growing life insurer, FNB life has disrupted the status quo by displacing traditional insurers to take the top accolade for most satisfied customers in the South African Customer Satisfaction Index (SAcsi) for Life Insurance Companies.

Lee Bromfield, Chief Executive of FNB Life says, “We are extremely pleased with the findings of the Index and are grateful to be recognized by our customers as a leading insurer for our efforts in customer service, highlighting our ability to meet and exceed their expectations. Our strategy is to provide customers great value, simple products and to be a reliable provider who pays-out customers’ claims. Similarly, we continue to place greater emphasis on minimizing barriers to taking up life insurance by digitising the process end to end.”

Launched four years ago, FNB Life led the industry with 83.7 which is well above the industry standard of 78.3. The provider increased its overall satisfaction index scores compared with 2017 – a notable achievement considering they were operating off a high base which is typically challenging to improve upon.
FNB Life has the highest percentage of loyal customers at 72.1% and above the industry par of 64.8%, the report found, and has increased its customer loyalty score of 71 in 2017 and is the only brand to have done so.

“The advantage brought forth by the bank’s infrastructure has not only given us a captive audience to work with, but a fully-fledged eco-system that allows us to better service our clients from across every single one of their product or servicing touch points. We understand our customers end to end based on all the financial data we are exposed to and can service off.

Our success is rooted on the fact that we are committed to building the best product the bank’s customer can buy, distributed through channels that customers are accustomed to. We have successfully realised this objective in our business and are progressively enabling richer functionality and seamless servicing for our client base,” concludes Bromfield.

 

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